Member Info for DRichi

One positive thing i can say about Mr Levine is that he has always replies to my emails i send him, he has given me permission to share his last reply. What I say now may not be of comfort to you in relation to the share price . The answer is honest, direct and to the point Before I go on let me say I am happy if you wish to transmit my comments to our shareholders should you wish 1. As someone with a material amount of cash invested in this company, I am completely aligned with all shareholders? in relation to the share performance . Those that are around me in the business have no doubt the depth of my involvement and the time I devote to it 2. ?The share price performance has no relation to the company itself nor it's present financial position or prospects . As I have said it is completely disconnected with reality and is beyond frustrating to me 3. ?Above and beyond the general issues of small/medium companies such as market cap, liquidity, forced selling of positions and the poor investor reception nowadays for oil and gas companies, we have the argentine factor 4. That factor, misplaced in part but certainly magnified on fear and frankly ignorance of the situation on the ground, acts as an anchor and chain to ?our shares 5. President as a business is a sound one and the strategy is defined . The company is transformed from 2017 and we will continue to make advances despite the issues we have had recently . The latest Angostura agreement is an example ?of the strategy in action 6. I make no apologies for following this path nor for making this company profitable and successful. I feel deeply however for all the shareholders who see the price eroded daily for no business reason whatsoever Nevertheless we have to concentrate on building the business and that's what we are doing? and whilst ever we are a public company do our best to keep the market informed The dream in my mind is still alive. I'm not giving up on it Peter Levine

Good article from the FT about the new team of 4 economic advisors put together to advise and assist the new Government.
https://www.ft.com/content/ec4cb3cc-f975-11e9-a354-36acbbb0d9b6

"Guillermo Nielsen, 68, was Argentina’s finance secretary from 2002 to 2005.... (and) is strongly in favour of the development of Argentina’s vast Vaca Muerta shale resources as an essential source of foreign exchange that can help to plug Argentina’s dollar shortage. “Vaca Muerta is going to be a priority. Argentina has to become, and can become, an oil and gas exporting country,” he told the Financial Times this year."

Peronists return to power in Argentina as Macri concedes defeat. Alberto Fernández secures 48 per cent share of vote with country in economic crisis.

Still, Peronists have been in power for 24 of the last 30 years. Maybe they won't do such a bad job with the economy. (Said more in hope that in expectation).

Gas sells should start soon, but the majority is scheduled to come online in Q1 2020, so that will bring in some more revenue.

The Argentine well workovers were put on hold due to the price freeze implemented by the Arg Gov, but this has been lifted. Maybe PPC are waiting till after the election to restart these?

500k shares for only £18.6k. Wow! Those are some depressing numbers. That would be most of my holding if I sold it, painful top think about that vs the cost of investing.

Hopefully, after the Argentine elections a bit of stability can come. Hopefully PPC can ramp up production as per their plans in both Argentina & the US. Hopefully all the Gas can come on-line. And hopefully they can pull a rabbit out of the hat in Paraguay. Hopefully investment can flood in and the SP can go up a significant amount. It could happen....... fingers crossed.

CGC are buying US$1.825 million shares in a number of tranches; I hope this comes to a lot less than 10% of the company, although on the current SP trajectory....!!

Would rather not have to make gallows humours jokes here, oh well, maybe after the Argentine election is over next week, some investment will come in. Hopefully people will be able to see the progress PPC are making rather than worrying about macro environment issues.

10% Production increase, for some share dilution, but CGC will still pay market rate for these shares. Looks like PPC have done a pretty good deal here.

Brasso- RNS from July confirming that US$3.6 million outstanding balance of the US$4 million high interest debt (12.5% plus 6 months US$ LIBOR per annum) owed to Bank Hipotecario has been paid off. The Company has been paying off debts, and is forecast to be debt free in less than 12 months time.

Shares in circulation- Ugh. Unfortunately there have been way too many shares issued, and that is perhaps[s the biggest thing that has suppressed the SP.

Rocksolid- Agree that the share price is underperforming. It's crazy but a few years back when PPC wasn't making a profit the SP was much higher. Production has increased, profits have increased, debts have been significantly paid down, and the SP is lower. I'm heavily invested in here and am confident of a decent return one day, so understand why you would want to buy shares here. But, for whatever advice from another poster that you haven't met is worth, my tuppence would be to sit on the sidelines until the next piece of news. If it's good, then you might get in at say 4.5p so although you would have missed the bottom, at least you could be confident that the direction of the SP had changed and is on the way up.

Anyways, you pays your money, you takes your chances.....

Reading through the HY statement again, "Net Group average production for the full year 2019 is now projected to be ca. 2,600 boepd, up 13.5% year on year (2018: 2,279 boepd)..... projections for 2020 therefore show a materially increased average in the range 4-5,000 boepd"

After all the great things forecast for 2019, seems like we will now be waiting for 2020. Still after PPC were going to drill in Paraguay by hook or by crook in 2018, I guess I shouldn't be so surprised.

I'll keep holding, sure this will come good some day....

Hopefully there will be good updates on these on Monday.

1/2 years results have to be published by end of Sept, otherwise there's fines & penalties for it being late. So not really any news then....

Kid- The Argentine decree confirmed in the RNS states that "the reference price of Brent is fixed at $59 per barrel." That's USD, maybe you've converted it to GBP? But Brent is priced in dollars so easiest to stick to that.

Morning AParky- Sorry must have gotten up on the wrong side of bed this morning. Yeah- Brent went to $71 (although it's a pity that PPC only get $59 in Arg at the moment). Still, England won at the Oval, Bournemouth beat Everton, and for the frustrations with PPC, (oil price in Argentina and lack of comms about workovers and Production figures), PPC is now a profitable company, and it is on an upward trajectory, so will come good at some point....

Cheers! :-)

I can guess the answers:
Argentina- On hold
Paraguay- Yet to start. No updates at this time.
USA- Unforeseen delays- will start soon.

Detailed 1/2 year results should be published by end-Sept.
Would also like to see detailed review of what's going on with all the other initiatives. Oil & GAs, in Argentina & the USA. The answer is most likely to be a lot less than was targeted at the start of the year, but still, be nice to have some communications and some updates.

Fund managers recently burned by Argentina are doubling down on the country’s bonds, saying that prices have dropped to levels that should offer solid returns. FT article here- https://www.ft.com/content/5b42918e-d004-11e9-b018-ca4456540ea6

When prices drop and are very cheap there's always money to be made. Here's hoping the Argentine fears were overplayed and the country can bounce back, and PPC can do well in that....

Workover- Many thanks for posting this analysis.
Redrich- Agree with you- lock these shares away now and hop[e Paraguay comes good.

Debt being paid off is really good. The big debt has long been an overhang here. Production is good now and is being increased this year and next, and the company is profitable. All good things. Just need Argentina to be not completely unstable. Hmmm....

Malcy has now taken PPC out of his Bucket List.

"President Energy has been doing all the right things but with no following wind, I have great sympathy with the management team who have operationally delivered in spades but with no reward. The Argentine link has been hanging over it but recent polls ahead of the Presidential election have upped the beta and forced the company to take a rain check on oil and concentrate on its gas assets for the time being. As a result, I think it wise to take the company out of the list for the time being. "

Maybe this will be like being at Epsom or Cheltenham on a bad day when you've lost on the first four races, so decide not to bet on the 5th, and then the horse you would have backed comes in! Not that I'm suggesting AIM is gambling, but sometimes it doesn't feel quite so different....

Brasso- a 50% increase means that production will be 150% of the baseline. The figures you quote are correct, we agree, I was phrasing it differently.

Unfortunately that is likely to be less now due to Argentine legislation. Good article in the FT on IMF bailout of Argentina- https://www.ft.com/content/5cfe7c34-ca48-11e9-a1f4-3669401ba76f